Ontario Ministry of Finance Grants & Loans: Guide for Business Owners

This guide for business owners covers current Ministry of Finance funding programs, including tax credits, tax refunds and rebates for entrepreneurs.

This is our dedicated “hub” page for Ministry of Finance funding programs. We’ll continuously update this page to reflect changes in programs – so bookmark this page and check back often for updates!

Ministry of Finance Mandate

The Ministry of Finance supports a strong economic, fiscal and investment climate for Ontario, as well as a dynamic, innovative and growing economy across five core lines of business:

  • Fiscal, tax, economic and statistics policy,
  • Revenue generation,
  • Debt management,
  • Intergovernmental fiscal relations, and
  • Financial services regulation.

The Ministry ensures that spending is directed to the highest priority needs while reducing the debt burden; supports a fair, efficient and competitive tax system; works with the federal government to represent Ontario’s interests with respect to fiscal arrangements; and uses a modern and risk-based approach to regulating the financial services sector.

The Ministry is enhancing public-facing services by enabling digital service delivery; working collaboratively with its operational and regulatory agencies on modernization efforts; and continuing work that addresses the underground economy.

The Ministry also plays an integral role in the government’s response to COVID‑19 and will support post-pandemic economic recovery efforts.

Ministry of Finance Priorities

The Ministry of Finance’s priorities include:

  • Managing Ontario’s finances responsibly,
  • Supporting workers and families,
  • Supporting the economy, and
  • Supporting modernization.

You can learn more about Ministry of Finance’s priorities by reading its 2021-22 Strategic plan.

Types of Funding Ministry of Finance Offers

The Ministry of Finance offers:

  • tax credits are amounts that reduce the tax businesses pay on their taxable income.
  • refunds are for taxes that have been overpaid or incorrectly paid, and are returned to a business or individual under a taxing statute or regulation.
  • rebates are for taxes properly paid and are subsequently returned to businesses or individuals under a rebate provision.

To get your refund or rebate faster, use the Direct Deposit service the Ontario Ministry of Finance offers! It’s easy and secure.

Ministry of Finance Funding Programs

Below are links to Ministry of Finance’s specific programs by types of funding:

Tax credits and benefits for various audiences:

  • Businesses:
  • The Regional Opportunities Investment Tax Credit supports business investment, economic growth and job creation in designated regions across the province that lagged in employment growth between 2009 and 2019. The Canada Revenue Agency (CRA) administers tax credits on behalf of Ontario.
  • The Political Contribution Tax Credit for Corporations is for corporations who participated in the provincial political process by making a financial contribution to an Ontario candidate, constituency association, or political party before January 1, 2017. This tax is administered by the Canada Revenue Agency (CRA).
  • The Small Beer Manufacturers Tax Credit supports beer manufacturers with permanent establishments in Ontario. They may qualify in respect of eligible sales of draft and non‑draft beer sold to purchasers in Ontario during a sales year, if they meet certain criteria, including limits on production.
  • Farmers:
  • Shareholders:
  • The Ontario Dividend Tax Credit is intended to compensate individual shareholders for income tax paid by Canadian companies in which they have invested.

Refunds and rebates

  • The Ontario Retail Sales Tax for Used Vehicles Purchased Privately for the used vehicles they purchased.
  • The Refund of Retail Sales Tax on Insurance or Benefit Plan Premiums for the premiums they paid on insurances or benefit plans.

Ministry of Finance Contact

Ministry of Finance Headquarters

Ministry of Finance
95 Grosvenor Street
Toronto, Ontario M7A 1Y8

Tel: 1-866-ONTTAXS (6688297)
Fax: 1-866-888-3850
Toll-free TTY: 1-800-263-7776

Click here for the Minister of Finance Tax Office and here for Finance Minister’s Office.

Ministry of Finance Social Media

Twitter

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